AEP Economic & Business Development: Research Services

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Samuel Turner
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1 AEP Economic & Business Development: Research Services Guide to Information Tools & Resources September

Information Tools & Resources Guide Business, demographic and economic data helps communities make informed decisions on economic development strategies, from understanding strengths and

2 Information Tools & Resources Guide Business, demographic and economic data helps communities make informed decisions on economic development strategies, from understanding strengths and opportunities to identifying investor company and industry targets. AEP Economic & Business Development s research team provides information tools, resources and support for the communities in our 11-state service territory to help you plan and grow. Our capabilities include: Community workforce analysis Community demographics Community comparisons Top employers Mapping Business lists Corporate research Economic impact analysis Average electric rate comparisons Project-specific, customized research Please contact your local AEP Economic & Business Development Manager for more information or to request assistance. Complimentary Tools Offered to AEP Communities LocationOne Information System (LOIS) In addition to its capabilities as a site & building database that can be embedded on your website, LOIS also provides access to 15 ESRI demographic reports based on user-defined radius from a site (miles and minutes), as well as at the county or local level. Community Profile Interactive Map Available on the AEP Economic & Business Development website, this resource gives communities across all AEP-served counties the ability to view or download county-level demographic and business data. Subscription Based Tools AEP Economic & Business Development utilizes premium tools for research and analysis. Licensing agreements do not allow us to provide public access. However, reports on your community can be pulled and sent to you upon request. EMSI (Economic Modeling Specialists Intl.) Comprehensive information on industries, occupations, demographics, as well as data on occupational skills, education and training for a specific industry and/or region. Customization of geographies permits comparison of AEP communities with competing regions. Industry and occupation aggregations are also available. ESRI Business Analyst Premium map-based solution to create custom reports for site evaluation and market analysis. Utilizes extensive demographic, consumer spending, and business data to create custom reports and maps, including drive time and radius maps. September

3 ESRI ArcGIS A mapping platform for the management, analysis and display of geographic information. AEP maintains a robust ArcGIS system with many data layers including electric infrastructure and service territory, as well as a large library of other layers of critical site selection data. Conway New Plant Database A listing of qualifying new and expansion projects in the U.S. that includes company, project type, industry, location, capital investment, employment and square footage. Although the database has been available since 1989, AEP has data available from 2007 to present. D&B Hoovers A business intelligence gathering tool providing In-depth company profiles, SWOT reports, competitor lists, corporate family relationships, financial data, executive and mid-management contacts and industry information.recently combined with Avention OneSource. First Research Industry statistics, trends and analysis. D&B Credit Reports Access to business credit information and credit reports. Bloomberg Terminal A computer system that enables real-time financial market analysis, news and corporate financial research. Moody s Analytics Access to extensive economic, financial, demographic, consumer credit and market data for AEP states and metropolitan areas. The Council for Community and Economic Research (C2ER) ACCRA Cost of Living Index C2ER is the research organization that compiles cost of living comparison information for cities throughout the country. The quarterly index provides a useful way to compare cost of living differences between urban areas weighted by different categories of consumer expenditures for mid-management households. A state incentives database, state economic development expenditures database and Reference USA business database are also provided through our membership with C2ER. Edison Electric Institute (EEI) EEI is an association of shareholder owned electric companies, and provides public policy leadership, strategic business intelligence, and conferences and forums. Publically Available, Government and Free Resources & Tools AEP leverages many publically available resources and tools for comprehensive site and community analysis research. We provide this list as a useful reference for our community economic development partners to utilize for your own research needs. The Tax Foundation - The Tax Foundation educates the public on tax policy and tax burdens borne by Americans at all levels of government. The Tax Foundation website includes many tools and calculators including a marginal tax rate calculator, state spending limit calculator, property tax data tool, state-tostate migration tool, and a value added tax calculator. Census Bureau County Business Patterns The County Business Patterns (CBP) and Zip Code Business Patterns (ZPB) cover most of the country s economic activity. The series excludes data on selfemployed individuals, employees of private households, railroad employees, agricultural production employees, and most government employees LEHD OnTheMap - Longitudinal Employer-Household Dynamics is an innovative program within the U.S. Census Bureau that uses statistical and computing techniques to combine federal and state administrative data on employers and employees with core Census Bureau censuses and surveys. Commuting pattern studies and labor shed analysis can be used with this tool. The LEHD provides a number of useful data tools including the following: Community Economic Development: provides quick information tailored to economic September

4 development decision making QWI Online: Quarterly workforce indicators OnTheMap: An online mapping and reporting application that reports where people work and live Census Bureau American Fact Finder The American Fact Finder reports census data on population housing, economic & demographic characteristics in an easily consumable way. The American Fact Finder provides data at the U.S., state, county, city/town, and zip code levels. BLS US Bureau of Labor Statistics is the principal fact finding agency for the Federal Government in the broad field of labor economics and statistics. The BLS collects wage, unemployment & occupation information. The BLS also includes up to date major economic indicator releases. The BLS Local Area Unemployment Statistics (LAUS) program is a Federal and State cooperative effort that prepares monthly estimates of employment and unemployment data for regional, state, county, metro, city levels. These estimates are used as local economic indicators. The BLS Location Quotient Calculator generates location quotients that are used to compare industrial activity levels for different areas of the country. Location quotients are ratios that compare the concentration of a resource or activity, such as employment, in a defined area to that of a larger area or base. BEA The Bureau of Economic Analysis is a source of US economic statistics. The BEA reports the following information: National: GDP, Personal Income and Outlays, Consumer Spending, Corporate Profits, Fixed Assets, Research and Development Satellite Accounts International: Balance of Payments, Trade in Goods and Services, International Services, International Investment Positions, Direct Investment in Multinational Companies, Survey Forms and Related Materials Regional: GDP by state and Metropolitan Area, State and Local Area Personal Income, RIMS II and Regional Input-Output Multipliers Industry: Annual Industry Accounts, Benchmark Input-Output Accounts, Research and Development Satellite Accounts, Travel and Tourism Satellite Accounts, Supplemental Statistics U.S. Energy Information Administration The EIA s Electricity data includes statistics on power plants, capacity, sales, prices and customers. AEP uses this information for average industrial rate comparisons of AEP operating companies versus other utilities, state averages and national averages. O*NET Online The O*NET program is the nation's primary source of occupational information. Central to the project is the O*NET database, containing information on hundreds of standardized and occupation-specific descriptors. U.S. Cluster Mapping Project A national economic development initiative led by Harvard Business School Professor Michael Porter, the U.S. Cluster Mapping website offers statistical and visual data that assess business environment characteristics, reports and studies that highlight effective economic development strategies, and a directory that profiles cluster organizations and initiatives throughout the country. YourEconomy.org YourEconomy.org contains composition, growth, industry, and ranking data. Establishment sectors are divided into resident, nonresident and noncommercial. Resident is then subdivided into employment stages and growth factors. September

5 Sperling s Best Places Sperling s Best Places ranks people and places for major publications. Sperling s includes data on real estate, mortgages, and travel. It also compares schools, cities, climate, crime rates and cost of living. National Bureau of Economic Research (NBER) Economic Indicators The National Bureau of Economic Research (NBER) is one of the nation s leading nonprofit economic research information provide. The NBER releases current updates of major economic indicators. The Bureau concentrates on developing new statistical measurements, estimating quantitative models of economic behavior, assessing the economic effects of public policies, and projecting the effects of alternative policy proposals. City-Data.com City Data.com provides profiles of U.S. and Canadian cities and includes data on neighborhoods, schools, and property tax assessments. The site includes demographic, economic, and geographic information. Neighborhood Scout The Neighborhood Scout includes median household values, public school information, home appreciation rates, crime rates and other demographic and economic information for a given neighborhood or within a given distance from a single location. The tool allows you to compare one neighborhood versus another neighborhood for a given set of criteria. SizeUp SizeUp is designed for use with existing businesses in your community. It provides valuable tools for small businesses to engage in benchmarking, evaluate competition, and allocate advertising dollars. Benchmarking Helpful to a local business that wants to benchmark itself against all the other businesses in its industry based upon revenue, year started, employee salaries, number of employees, turnover, health care expenditures and workers compensation. They can benchmark against businesses in their own city, county, metro, state or nation. Competition Helps a business to better understand the geographic location of its competitors. Advertising Provides a business a guide as to where to advertise by zip code based upon highest combined business revenue for a particular industry. Salary.com Salary.com provides personal tools including salary information for a given profession, job search resources, education resources, and advice. It also includes information for small businesses including job pricing subscriptions, individual job reports, and small business advice. Countyhealthrankings.org This website provides information on county and state level data on health outcomes and health factors. September

Tapping Into the Power of Labor Market Information

Tapping Into the Power of Labor Market Information Melodee Lane Labor Market Information Center South Dakota Department of Labor & Regulation 605.626.2314 dlr.sd.gov/lmic What is LMI? Any information that